Microfinance ? the provision of financial services in limited amounts to low-income persons and small, informal businesses ? is increasingly being offered by a variety of formal financial institutions, including banks and non-banks, either as their core business or part of a diversified portfolio. As recommended in the Core Principles for Effective Banking Supervision, non-banks that mobilize deposits from the public should be subject to regulation and supervision commensurate to the type and size of their transactions.? In general, microfinance oversight, whether over banks or other deposit taking institutions, should weigh the risks posed by this line of business against supervisory costs and the role of microfinance in fostering financial inclusion. To assist countries in developing a coherent approach to regulating and supervising microfinance, the Microfinance Workstream of the Basel Committee on Banking Supervision has developed guidance for the application of the Core Principles to microfinance activities conducted by depository institutions in their jurisdictions
- Microfinance has grown most quickly in low-income countries, but many poorer households in richer countries also lack access to high quality financial services at reasonable prices. Discuss would opportunities and constraints for microfinance differ between richer countries and poorer countries.
Discuss why opportunities and constraints for microfinance would
differ between richer countries and poorer countries.
Microfinance: This is the provision of financial services to low-income...
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